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ITEM 1 5.1. <br /> • City of <br /> Elk -�-� <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: March I, 2004 <br /> SUBJECT: Downtown Revitalization Project Update <br /> - Call Special HRA Meeting for Joint Work Session with City Council <br /> Background <br /> At its January meeting the HRA considered a summary of feedback from downtown business& <br /> property owners with regard to staff's individual meetings with them to discuss project issues and <br /> concerns as well as parking options. The HRA directed staff to continue to meet with property <br /> owners, as well as with business tenants. <br /> 411/ The HRA also considered and approved a 60-day extension to its Preliminary Redevelopment <br /> Agreement with MetroPlains Development. The extension provides additional time for staff and <br /> the developer to come to consensus on development agreement issues. The extension also provided <br /> MetroPlains the opportunity to submit a second application to the MN Housing Finance Agency for <br /> additional housing tax credits related to the proposed Jackson Block project. <br /> Recent Activities <br /> Staff was notified in early February that the project attorney,Jim O'Meara of Briggs&Morgan was <br /> retiring as of March 1s`. Staff has been working with Mary Ippel of Briggs&Morgan to bring her up <br /> to speed on the project history and development agreement issues. With regard to the development <br /> agreement issues, Ehlers &Associates continues to work closely with MetroPlains in obtaining and <br /> analyzing project financing information to determine an appropriate level of financing assistance and <br /> assuring commitments for the completion of both the Jackson and Bluff Blocks. <br /> Staff has met with five remaining downtown business tenants regarding issues and concerns related <br /> to the project, as well as parking options. The Assistant Director of Economic Development and <br /> Jim Prosser, of Ehlers&Associates have provided a separate staff report summarizes the findings <br /> and recommendations following the final series of meetings. <br /> Consider Special HRA Meeting for Joint Work Session with City Council <br /> Staff recommends that the HRA call a Special Meeting for Wednesday,March 17 at 6:30 p.m.,Lions <br /> Park Center. The purpose of meeting is for having a joint work session with the City Council to <br /> 411 informally discuss issues related to the Downtown Revitalization project history,status, and <br /> potential policy issues. <br />